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Oct 31, 2012
10/12
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i don't think the impact is that large. >> i know you've been studying katrina and irene. where does sandy fit in terms of economic impact? what are your numbers showing? >> good question, susie. >> in terms of total economic loss. because airms aren't going, and restaurants aren't serving meals, and the property damage i think tell come to about50 biion. put this in context, that's roughly the consequence of 9/11. it you sad up katrina it was 150 million. it's a big storm and a lot of damage, but less than katrina. >> susie: quickly, mark, because on friday we have the employment numbers coming out. i'd like your take on that. what are you expecting in terms of new job hirings and the unemployment rate? we've created 150,000 jobs a month over the past three years. i expect that's roughly what we'll get. unemployment, as you remember, it dips down unexpectedly to 7.8%, i expect that will notch up a tenth or two. i don't think we go over 8%. >> susie: it could notch up a bilt. good information. mark, always a pleasure talking to you. mark zandi. >> thank you. >> tom: still
i don't think the impact is that large. >> i know you've been studying katrina and irene. where does sandy fit in terms of economic impact? what are your numbers showing? >> good question, susie. >> in terms of total economic loss. because airms aren't going, and restaurants aren't serving meals, and the property damage i think tell come to about50 biion. put this in context, that's roughly the consequence of 9/11. it you sad up katrina it was 150 million. it's a big storm and...
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Oct 30, 2012
10/12
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CNBC
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it could cause more flood damage than hurricane irene. water reached record levels in some areas. >> and brian shactman is in the hamptons specifically on the south shore of long island. you're getting used to this wet weather. what has the night been like and how is the day shaping up? >> things have settled down a bit even though the rain has picked up. we're getting as of rain now as we did yesterday. we're three hours east of manhattan and it's a very swanky area in terms of summer properties. jerry seinfeld, robert de niro, paul simon some of the name 2s s that have properties out here. we wait for sunlight to assess the damage. it's almost like a video game on the roads where you have to duck under things and around things. took about a four hour nap, went to bed with 600,000 customers on long island without power. woke up with 900,000 customers. that's not people, just homes. so a lot more people do not have power. overall, it's about 6.5 million customers that did not have power. here it was about the surge in the ocean and the wi
it could cause more flood damage than hurricane irene. water reached record levels in some areas. >> and brian shactman is in the hamptons specifically on the south shore of long island. you're getting used to this wet weather. what has the night been like and how is the day shaping up? >> things have settled down a bit even though the rain has picked up. we're getting as of rain now as we did yesterday. we're three hours east of manhattan and it's a very swanky area in terms of...
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Oct 29, 2012
10/12
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WMPT
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this storm instead, first of all, it's much larger than irene. it's coming directly at the coast instead of parallelling it. the effects are spanning hundreds and hundreds of miles, much more so than irene. >> ifill: this storm is hovering with lots of rain centered over one area. how many days do you expect we'll be coping with the fallout from all of that? >> well, i think that it's going to take until wednesday before conditions really significantly improve so that people can get back and start looking at what happened. tomorrow it's still going to be a bad day because the system is going to slow down once it gets towards pennsylvania. it will weaken, but it's going to take a long time for this system to wind down. >> ifill: james franklin of the national hurricane center, thank you. >> you're welcome. >> woodruff: now, a closer look at what officials on the ground have been doing to prepare for the storm's blow. ray suarez spoke by phone a short time ago with cory booker, the mayor of newark, new jersey. suarez: welcome to the program. whethe
this storm instead, first of all, it's much larger than irene. it's coming directly at the coast instead of parallelling it. the effects are spanning hundreds and hundreds of miles, much more so than irene. >> ifill: this storm is hovering with lots of rain centered over one area. how many days do you expect we'll be coping with the fallout from all of that? >> well, i think that it's going to take until wednesday before conditions really significantly improve so that people can get...
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Oct 31, 2012
10/12
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CNBC
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we also had hurricane irene hit new york last year. so it really trained people to expect -- to prepare for a disaster. maybe not of this scale, certainly, but certainly people learned what to get, how to prepare, so there was a lot of pre-storm shopping done. >> certainly we're looking for the impact on companies like generics, which makes generators, and energizer batteries. in terms of those who may get a benefit from this. the question becomes some of the drugstores. do they lose sales that they won't be able to make back because people aren't picking up prescriptions. maybe they aren't doing their halloween shopping. >> there are some people who will -- the sales will come back, if you will. if you need your medication, you need your medication. you stocked up before the storm, and you'll come back as soon as you can after the storm to make sure that you have your appropriate medication. but that said, there are certain other locations that simply will not recover. sit-down restaurants are probably the most obvious. while they may
we also had hurricane irene hit new york last year. so it really trained people to expect -- to prepare for a disaster. maybe not of this scale, certainly, but certainly people learned what to get, how to prepare, so there was a lot of pre-storm shopping done. >> certainly we're looking for the impact on companies like generics, which makes generators, and energizer batteries. in terms of those who may get a benefit from this. the question becomes some of the drugstores. do they lose...
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Oct 29, 2012
10/12
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advisory on hurrican irene. we want to go to rob marciano who will tell us what this latest advisory is about. >> it's frightening, up to 85-mile-an-hour wind now. there's a possibility from reading some nuggets from the national hurricane center that it could strengthen some more. we knew we had that possibility. still over the gulf stream where waters are still warm enough to sustain a hurricane. also getting into an environment where it favored strengthening. that's what we've seen. here it is in the satellite picture. 85-mile-an-hour winds. that's a moderate strength category one storm with possible strengthening as we go through time. about 380 miles south of new york city it's movement has picked up northerly about 15 miles an hour and we still expect that turn toward the west later on. this is huge. reading some technical stuff, the tropical storm force winds, diameter nearly 800 miles wide. that is huge. the second largest tropical system we've seen in the last few decades. hurricane force winds extend 1
advisory on hurrican irene. we want to go to rob marciano who will tell us what this latest advisory is about. >> it's frightening, up to 85-mile-an-hour wind now. there's a possibility from reading some nuggets from the national hurricane center that it could strengthen some more. we knew we had that possibility. still over the gulf stream where waters are still warm enough to sustain a hurricane. also getting into an environment where it favored strengthening. that's what we've seen....
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Oct 29, 2012
10/12
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we got through irene. this will be tougher, but we can get through this also. >> are you finding people are heeding the warnings already, sir? >> yes. we have about 150-plus folks in our shelters. we're getting tweet information @michaelnutter. our 311 system is getting a lot of calls. people asking for information. i think people know we're taking this seriously. president obama signed an emergency declaration. we're working through our state and governor corbett. we're constantly pumping out information to folks. people know that this is the real deal. they knew that irene was tough. this is going to be tougher and probably last longer because this is a slow moving storm. so it's just going to expand on the amount of rain and wind and that's a tough combination for us in a big old northeastern city. >> it sure is. mayor michael nutter joins us from philadelphia. thank you, sir, for your time. we certainly appreciate it. let's head to baltimore, shall we? let's chat with stephanie rowelings blake. she's t
we got through irene. this will be tougher, but we can get through this also. >> are you finding people are heeding the warnings already, sir? >> yes. we have about 150-plus folks in our shelters. we're getting tweet information @michaelnutter. our 311 system is getting a lot of calls. people asking for information. i think people know we're taking this seriously. president obama signed an emergency declaration. we're working through our state and governor corbett. we're constantly...
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Oct 30, 2012
10/12
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CNBC
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you have irene 14 months ago, now this. do your models tell you that this is going to be a more likely scenario over the next, i don't know, 20 or 30 years? >> well, carl, we do model scenarios like this, believe it or not. maybe not exactly this scenario but ones of this kind of severity. and for us i would say it's a manageable event financially. i don't think there's any question that things are different now. at least they have been over the last couple of years. you might expect a company like ours has skilled analytical professionals who do this work in conjunction with industry groups and the weather patterns have been quite different. the question really is, is this a permanent change, or is this just a cycle we're going through which we've had many weather cycles throughout history, as you know. i don't think the answer to that is clear yet. >> right. and, liam, i have to ask you, the impacts on the industry as well as the consumer here, when you hear about these sorts of hurricanes and you hear about the estimated
you have irene 14 months ago, now this. do your models tell you that this is going to be a more likely scenario over the next, i don't know, 20 or 30 years? >> well, carl, we do model scenarios like this, believe it or not. maybe not exactly this scenario but ones of this kind of severity. and for us i would say it's a manageable event financially. i don't think there's any question that things are different now. at least they have been over the last couple of years. you might expect a...
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Oct 29, 2012
10/12
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eye 212
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irene, this was as high as irene got, and i think we'll get another couple of feet on top. >> another couple of feet on top of what we're experiencing now, again. water -- when you go down the street it's high thy-high already. >> all right. i'm curious how is he going to get those kids out, but we've run out of time, so maybe we'll get back to you, and maybe he can help us understand how he is moving the family out with that little boat. >> if are you trying to fly out of the northeast, are you probably out of luck. thousands of flights canceled because of the storm. we'll show you where. i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. anncr: every president inherits few have faced so many. four years later... our enemies have been brought to justice. our heroes are coming home. assembly lines are humm
irene, this was as high as irene got, and i think we'll get another couple of feet on top. >> another couple of feet on top of what we're experiencing now, again. water -- when you go down the street it's high thy-high already. >> all right. i'm curious how is he going to get those kids out, but we've run out of time, so maybe we'll get back to you, and maybe he can help us understand how he is moving the family out with that little boat. >> if are you trying to fly out of the...
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Oct 30, 2012
10/12
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this is twice the number of impacted households as hurricane irene. hurricane irene was 1.2 million impacted households and this is 2.4 million impacted households. 1.2 million of the 2.4 million for pse&g, 935,000 from jcp & l. 195,000 from atlantic city electric and 45,000 from orange in rockland. during hurricane irene restoration took eight days for full restoration. for hurricane sandy, the full restoration may, in fact, take longer. full damage assessment will not be complete until 24 to 48 hours due to some of the weather delays. they cannot develop the timeframe for restoration until damage and estimates are under way and obviously these difficult weather conditions are making this more of a challenge. however the utility companies have reached out to other states for assistance and we are expecting additional linemen. servicemen and free clearing workers from states as far away as texas, indiana and folks coming in to us from canada. it will remain extremely dangerous in areas where trees and wires are down. ask people to use extreme caution
this is twice the number of impacted households as hurricane irene. hurricane irene was 1.2 million impacted households and this is 2.4 million impacted households. 1.2 million of the 2.4 million for pse&g, 935,000 from jcp & l. 195,000 from atlantic city electric and 45,000 from orange in rockland. during hurricane irene restoration took eight days for full restoration. for hurricane sandy, the full restoration may, in fact, take longer. full damage assessment will not be complete...
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Oct 30, 2012
10/12
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FOXNEWS
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that is very similar to hurricane irene last year. >> greta: do you fly straight through it? i imagine it's a rough ride and when you get to the eye of the storm it's calm. is that not what happens? >> well, we fly at 10,000 feet, and the idea is to go right through the center of the hurricane so you can measure the core of the storm, and then also measure the winds on the periphery of the storm, so it normally gets very rough right near the center and then typically out away from the center when the winds lighten up, it's not so bad any more, and in this case, for hurricane irene, at least on friday, the strong winds were well out from the center, and we had some really nasty stuff to go through on the north side of the storm, probably 105, 110 miles north of the center. >> greta: what kind of aircraft do you fly through that? >> we use a wc-130j. ourselves and noaa, they use p3-orion, so they're turbo prop type aircraft. a lot of people ask us why don't you use jets? typically jets tend to fly a little bit too fast, and we want to go slow to reduce the majority of the turbu
that is very similar to hurricane irene last year. >> greta: do you fly straight through it? i imagine it's a rough ride and when you get to the eye of the storm it's calm. is that not what happens? >> well, we fly at 10,000 feet, and the idea is to go right through the center of the hurricane so you can measure the core of the storm, and then also measure the winds on the periphery of the storm, so it normally gets very rough right near the center and then typically out away from...
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Oct 26, 2012
10/12
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CNBC
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perhaps even bigger, they say, than last year's hurricane irene. with winds near 80 miles an hour, right now hurricane sandy is moving north along the eastern seaboard, already impacting portions of florida and georgia. mary thompson is tracking preparations ahead of the big storm. >> it's already been dubbed frankenstorm over the halloween horror story at lowe's. the east coast of course bracing for a storm with potential to do billions in damage. the latest update from noaa says heavy rains and flooding is forecast in the mid-atlantic states but high winds could be felt from the carolinas all the way up through new england. corporate america's prepping to serve both customers and protect its employees in light of this storm. at lowe's, a 24-hour command center tracks the storm while it shipped generators, batteries, chainsaws and other items in high demand after the storm to northeast markets expected to be impacted by sandy. as for the power provider, citi noting four with big exposure to the mid-atlantic and pennsylvania areas where the heavies
perhaps even bigger, they say, than last year's hurricane irene. with winds near 80 miles an hour, right now hurricane sandy is moving north along the eastern seaboard, already impacting portions of florida and georgia. mary thompson is tracking preparations ahead of the big storm. >> it's already been dubbed frankenstorm over the halloween horror story at lowe's. the east coast of course bracing for a storm with potential to do billions in damage. the latest update from noaa says heavy...
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Oct 26, 2012
10/12
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FBC
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hurricane irene dumped a lot of water on new jersey, vermont, new hampshire. there is severe flooding. that is what they expect this time around. fema is on the call. they are moving emergency response people into position in the atlantic states but until they know where the storm will make landfall they don't want to pin anyone down. back to you liz. david: liz has a house on hudson river and i have one on cape cod. >> can join me. david: i think we'll all be camping there. a homeless man spent two decades staying in hotel rooms and visiting disney 26 times, not legal of course. find out how he did it and if you want to break the law how he could do it. liz: what you need to make it big next week. find out here next on fox business. ♪ [ male announcer ] eligible for medicare? that's a good thing, but doesn't cover everything. only about 80% of your part b medical expses. the rest is up to you. soonsider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up som
hurricane irene dumped a lot of water on new jersey, vermont, new hampshire. there is severe flooding. that is what they expect this time around. fema is on the call. they are moving emergency response people into position in the atlantic states but until they know where the storm will make landfall they don't want to pin anyone down. back to you liz. david: liz has a house on hudson river and i have one on cape cod. >> can join me. david: i think we'll all be camping there. a homeless...
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Oct 31, 2012
10/12
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CNBC
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just because of irene last year, it's a little bit of a blessing irene came through last year, probably not the way people felt at the time, but certainly now this port was ready for whatever this hurricane threw at us. >> i guess, you know, the media has done a lot with the bounty, it had to be an odd set of circumstances that brought about the sinking of this old ship that was used in filming of the movie. what can you tell us about what happened there. >> i'm afraid i can't tell you a whole lot about what happened there other than i know coast guard responded. that happened off the north carolina coast? >> yeah, it was moving somewhere, but to be caught up in just bizarre. sometimes the news is stranger than fiction. but yeah, i know apparently i just saw on the intro to you that the captain of that ship is, i guess, they're still searching for the body. i think most of the people were -- >> 16 of the 18 were found and rescued, one was brought in and i think had been in serious condition. they had not been able to resuscitate her last i'd heard. >> what's going on today, captain? wha
just because of irene last year, it's a little bit of a blessing irene came through last year, probably not the way people felt at the time, but certainly now this port was ready for whatever this hurricane threw at us. >> i guess, you know, the media has done a lot with the bounty, it had to be an odd set of circumstances that brought about the sinking of this old ship that was used in filming of the movie. what can you tell us about what happened there. >> i'm afraid i can't tell...
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Oct 30, 2012
10/12
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CNBC
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they had nothing since gloria and irene, now two times in nine years. there are customers without power on long island. it's an economic story and property story because people are losing fishing business. back to you. >> the markets have been closed for two days. they re-open for tomorrow. here's something i haven't been able to say for a while. we have or first move for tomorrow right after this. up. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's in
they had nothing since gloria and irene, now two times in nine years. there are customers without power on long island. it's an economic story and property story because people are losing fishing business. back to you. >> the markets have been closed for two days. they re-open for tomorrow. here's something i haven't been able to say for a while. we have or first move for tomorrow right after this. up. a short word that's a tall order. up your game. up the ante. and if you stumble, you...
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Oct 29, 2012
10/12
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CNBC
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irene cost an estimated $300 million. i talked with one analyst today who said take irene, add another 50%. that's an idea of what sandy might cost the airlines. guys, back to you. >> phil, thank you. phil lebeau in atlanta for us. >>> let's look at some of the non-storm related stories that have crossed the tape today. ford has dropped to next to last among 28 car brands in the "consumer reports" 2012 reliability survey. toyota toyota's, lexus and toyota brands took the top spot. >>> early earnings release for anadarko petroleum reporting third quarter profit of 84 cents a share. that was eight cents higher than estimates. anadarko had been zuscheduled t release earnings after the now-non-existent bell today. >>> ebay has told workers some jobs are being eliminated. they'll take a $15 million charge related to those cuts. >>> take a look at this home video just in to us from city island, new york. it is a small island in new york city proper. it is just off the bronx. you can see the water pummelling that house that's to
irene cost an estimated $300 million. i talked with one analyst today who said take irene, add another 50%. that's an idea of what sandy might cost the airlines. guys, back to you. >> phil, thank you. phil lebeau in atlanta for us. >>> let's look at some of the non-storm related stories that have crossed the tape today. ford has dropped to next to last among 28 car brands in the "consumer reports" 2012 reliability survey. toyota toyota's, lexus and toyota brands took...
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Oct 30, 2012
10/12
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CNBC
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of people whose homes might go there i think contractors and i use it for my beach house redo after irene, sandy is making me go back to that one. it is a high quality luxury home furniture ipo that is growing like a weed. that is why i want you to get a piece of it. back in 2008, the combination of the recession wreaked havoc on it and the company has taken a hit. once it was private the new owners did something they never could have gotten away with. they doubled down with big ticket furniture. ritzy chandeliers and closing many of it's old stores and replacing them with free standing galleries. they are putting up pretty good numbers. the company is taking shares with the home furnishing markets. it is a smaller store base than william senoma. so the company has a lot of room to expand. restoration posted a 27.8% increase in same store sales and for the last 12 months in july they had a 29% increase. people these are bullish numbers. william senoma, these other guys aren't close to their growth rate. that is more expensive than william see gnosenoma. but i think they deserve the rate.
of people whose homes might go there i think contractors and i use it for my beach house redo after irene, sandy is making me go back to that one. it is a high quality luxury home furniture ipo that is growing like a weed. that is why i want you to get a piece of it. back in 2008, the combination of the recession wreaked havoc on it and the company has taken a hit. once it was private the new owners did something they never could have gotten away with. they doubled down with big ticket...
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Oct 30, 2012
10/12
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MSNBC
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the biggest thing i worry about what i saw in irene is people not necessarily acting with common sense and becoming rescue situations themselves. last year we had a lot of people trying to drive through flooded streets, becoming stranded and having to be sort of marine rescued. often the biggest injuries we see come in the aftermath of storms, power lines are down, electricity is still flowing and dangers abound, so, you know, we've got folks spread all throughout the city working well, frankly, in tight coordination but with federal, state and local authorities, we had a conference call with the president, the governor was on it, myself and others so there's a lot of teamwork going on and learned a lot from past crises. [ "everybody have fun tonight" plays ] really catching on! people can do it all! get a quote, buy and manage your policy! -[ music stops ] -it's great! well, what's with the... -[ music resumes ] -music? ♪ have fun tonight dude. getting a car insurance quote. i'll let it go to voicemail. [ clears throat ] ♪ everybody wang chung tonight ♪ putting it on vibrate. [
the biggest thing i worry about what i saw in irene is people not necessarily acting with common sense and becoming rescue situations themselves. last year we had a lot of people trying to drive through flooded streets, becoming stranded and having to be sort of marine rescued. often the biggest injuries we see come in the aftermath of storms, power lines are down, electricity is still flowing and dangers abound, so, you know, we've got folks spread all throughout the city working well,...
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Oct 31, 2012
10/12
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CNBC
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we have seen it happen after the hurricane irene. the question is what kind of a backlash utilities will face to their storm restoration efforts. they're trying their best but it will take many days before the power service is restored. and that usually triggers a lot of regulatory scrutiny and that is not good news for utilities. >> as you look at the president's helicopter fleet there touring atlantic city, are any single companies of those you follow here more at risk to really devastating hits on their balance sheets or not? can you handicap it in any way for us? >> well, ouriously obviously ns the hardest hit area. 50% of households currently in new jersey are without power. coastal communities in new jersey and on long island should have the highest impact. so percentage, jcp and l, lipa on long island will have the highest impacts. we will be following especially jcp&l and the connecticut utility given the fact that their storm response after hurricane irene was the really harshly criticized by regulators and they really canno
we have seen it happen after the hurricane irene. the question is what kind of a backlash utilities will face to their storm restoration efforts. they're trying their best but it will take many days before the power service is restored. and that usually triggers a lot of regulatory scrutiny and that is not good news for utilities. >> as you look at the president's helicopter fleet there touring atlantic city, are any single companies of those you follow here more at risk to really...
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Oct 29, 2012
10/12
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CNNW
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in irene, it came close to about a foot of getting into the subway at south ferry, but i think that we have a good chance to get salt water in the subway for the first time. >> that is one of the most fascinating conversations we have had throughout the coverage. that guy knows his stuff, chad. another guy who es to the stu k because he is right up there in the middle of the hurricane in the aircraft, and we will go to him next. we will leave you for a little bit and live pictures of ocean city, maryland. oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve the most rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. what's in your wallet? ♪ ♪ hi dad. many years from now, when the subaru is theirs... hey. you missed a spot. ...i'll look back on this day
in irene, it came close to about a foot of getting into the subway at south ferry, but i think that we have a good chance to get salt water in the subway for the first time. >> that is one of the most fascinating conversations we have had throughout the coverage. that guy knows his stuff, chad. another guy who es to the stu k because he is right up there in the middle of the hurricane in the aircraft, and we will go to him next. we will leave you for a little bit and live pictures of...
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Oct 31, 2012
10/12
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that's 1.2 million more than lost power during hurricane irene. this is a monumental, monumental task that we have in front of us. i would ask them this week for their patience and then the week after that, we will need their resilience as we begin to go back to work and rebuild our state. but we're going to continue to work, we're doing search and rescue missions now, still. we have been doing them all day. we have been saving hundreds of people from places across new jersey and law enforcement is committed to continuing to do that until nightfall again tonight, then we'll start again tomorrow morning. >> you have a young family, are they all okay? where were they when this was going down? and what do you say to your children, what does any parent say to a child when this kind of catastrophe happens on their doorstep? >> well, first off, you give them a hug and say don't be scared, mom and dad will protect you. that's the first thing you do. second, my family was at our family home in mendham when we lost power finally late yesterday afternoon. t
that's 1.2 million more than lost power during hurricane irene. this is a monumental, monumental task that we have in front of us. i would ask them this week for their patience and then the week after that, we will need their resilience as we begin to go back to work and rebuild our state. but we're going to continue to work, we're doing search and rescue missions now, still. we have been doing them all day. we have been saving hundreds of people from places across new jersey and law...
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Oct 30, 2012
10/12
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FBC
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you know, the mta after irene which was obviously much less significant than what we are having now to really good job of getting the subway back up and running in about eight hours. as far as the tunnels, obviously it's a good thing, the critical thing is get the trains and the machinery out there. because we can try out the titles much more efficiently and quickly. the machines in the subway cars have been flooded, that would have really cut back. we get the call to go. >> reports the people chapter of the boroughs. most of the people we have spoken to. they did not heed the evacuation order. they live in zone day and did not get out. you have any sense how many people were talking, how many people might be trapped in the city of new york? >> 375,000 people in zone a approximately. we've -- our best guests was probably somewhere between 50 and 60 percent of people, were thinking upwards of 60. you can't see those. this be are now trapped. it's hard to know exactly. >> sure thing. all right. we thank you so much. the speaker, the city council joining us. thank you. take care. be safe
you know, the mta after irene which was obviously much less significant than what we are having now to really good job of getting the subway back up and running in about eight hours. as far as the tunnels, obviously it's a good thing, the critical thing is get the trains and the machinery out there. because we can try out the titles much more efficiently and quickly. the machines in the subway cars have been flooded, that would have really cut back. we get the call to go. >> reports the...
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Oct 30, 2012
10/12
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places that didn't experience flooding during irene. certainly did this time. historic event, and it will take some time to recover. >> back to you, scott. >> reynolds wolf for us from the weather channel. hurricane sandy loss estimates are as high as $10 billion, but what does this mean for the insurance stocks. let's welcome josh sterling an insurance analyst at bernstein. thanks for coming on today. >> thank you, scott. >> had an analyst on yesterday looking ahead to the storm who suggested that chub was the best physician. how would you assess who has got the best place right now in the insurance business, given the damage estimates?5zl >> well, you know, that's a great question. the truth of the matter is all will be weak for a few days. looking back in history, what happens is investors in times of uncertainty, until the companies start to report losses, generally the stocks will be weak, and, of course, you know, given this storm and given how many people who are investors and how we've been sitting at home watching television for the past couple of days
places that didn't experience flooding during irene. certainly did this time. historic event, and it will take some time to recover. >> back to you, scott. >> reynolds wolf for us from the weather channel. hurricane sandy loss estimates are as high as $10 billion, but what does this mean for the insurance stocks. let's welcome josh sterling an insurance analyst at bernstein. thanks for coming on today. >> thank you, scott. >> had an analyst on yesterday looking ahead to...
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Oct 31, 2012
10/12
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CNBC
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irene, a bit of a disappointment. this one was a little bit in the other direction. can you see that in the home repair stocks that i've been emphasizing. we've been talking about roofing as a major play for a week now. a lot of early players have had significant gains but today, look at these stocks moving 6% in a day. this is a real late investors in this game, roofing repair. but i think people underestimated. how about dredging and docking companies. great lakes. this is a very interesting play that not a lot of people talked about last week. there will be a big need to dredge out a lot of those harbors. armstrong another big play, they make flooring. overall you have a somewhat weak earnings picture. en certain election next week where mr. bernanke is very much a part of the play and now you have hurricane sandy ate my homework as a possible excuse for weaker fourth quarter earnings. >>> thank you very much, bob pisani. how is the first day of trading since hurricane sandy? let's ask managing director at lessard national markets. >> it is good to be back. two da
irene, a bit of a disappointment. this one was a little bit in the other direction. can you see that in the home repair stocks that i've been emphasizing. we've been talking about roofing as a major play for a week now. a lot of early players have had significant gains but today, look at these stocks moving 6% in a day. this is a real late investors in this game, roofing repair. but i think people underestimated. how about dredging and docking companies. great lakes. this is a very interesting...
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Oct 30, 2012
10/12
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MSNBCW
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and as we saw with irene then again with the october snowstorm, it can take a long time, perhaps a week or even nine or ten days before the power gets restored for a lot of folks. >> jeff stecker from wvit. thank you for that update. to the point he was making that it's so dark outside, there's so much water out there, there are so many downed lines. take this advice. this came from the fairfield police chief. "we have limited responsibilities, please stay inside your house and we are expecting massive damage." and i think that that would apply to communities up and down the eastern seaboard. we will continue msnbc's live coverage of hurricane sandy right after this. [ ryan ] it doesn't get any better than endless shrimp at red lobster. you can mix and match all day! [ male announcer ] don't miss red lobster's endless shrimp, just $14.99! try as much as you like, any way you like! like parmesan crusted shrimp. hurry in, offer ends soon! i'm ryan isabell and i see food differently. hurry in, offer ends soon! wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna s
and as we saw with irene then again with the october snowstorm, it can take a long time, perhaps a week or even nine or ten days before the power gets restored for a lot of folks. >> jeff stecker from wvit. thank you for that update. to the point he was making that it's so dark outside, there's so much water out there, there are so many downed lines. take this advice. this came from the fairfield police chief. "we have limited responsibilities, please stay inside your house and we...
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Oct 26, 2012
10/12
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FBC
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it is important, irene was an economic impact of $4.3 billion. predictions for sandy to be $1 billion. that is an understatement of the storm is bigger and worse as noaa is indicating that hurricane irene. the edison electric institute is telling people in the area that could be hit by the storm, delaware to new england be prepared for power outages of as much as 7 to ten days. west virginia expected to get two feet of snow from the storm. parts of pennsylvania and ohio up to eight inches of snow. cheryl: adam shapiro tracking the storm. for more on sandy, continuity dynamics' president ralph petty. you advise businesses on how to prepare for these storms. what are you telling your clients? >> just keep an eye on things and don't overreact. we have 48 to 72 hours to track the storm and when they make a decision make it with the best information. cheryl: they have to be concerned. one thing you point out is they look at the supply chain and got to be prepared if their business is shutdown and manage their employees. what do you say to that? >> exp
it is important, irene was an economic impact of $4.3 billion. predictions for sandy to be $1 billion. that is an understatement of the storm is bigger and worse as noaa is indicating that hurricane irene. the edison electric institute is telling people in the area that could be hit by the storm, delaware to new england be prepared for power outages of as much as 7 to ten days. west virginia expected to get two feet of snow from the storm. parts of pennsylvania and ohio up to eight inches of...
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Oct 30, 2012
10/12
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CNBC
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>> i was here for irene. certainly, as everyone else has said, it is a more intense and unprecedented storm to what it has done to operations, we are also bringing some of them back. >> thank you for joining us tonight. >> we have re-established on the phone, m.laroso on the phone. thank you for joining us. how long, we are asking the questions everyone else wants answers to i'm sure. >> glad to give you information. we've been able to make good progress today. we are down from our peak from under 1.4 million customers. so, more than 25% of the location that is were damaged those customers that weere interrupted were restored. we were able to restore service to newark airport. we restored service to the city of newark and elizabeth. >> the remains million people how long will they have to wait? >> i don't want to give you an exact number. we think there will be stragglers. those are the customers that have individual services down. but we plan to get most of the customers back within that seven day window. >>
>> i was here for irene. certainly, as everyone else has said, it is a more intense and unprecedented storm to what it has done to operations, we are also bringing some of them back. >> thank you for joining us tonight. >> we have re-established on the phone, m.laroso on the phone. thank you for joining us. how long, we are asking the questions everyone else wants answers to i'm sure. >> glad to give you information. we've been able to make good progress today. we are...
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Oct 29, 2012
10/12
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KNTV
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just to put this into perspective for you, 7 to 11 foot storm surge, when we had irene and that was very damaging, that storm surge only went up to 4 feet, so we could see double, potentially triple the size of the storm surge that we dealt with when it came to irene. for us locally, we have a much better scenario to look forward to. highs are going to be nice and comfortable. right now visibilities are dropping off. we've got thick pockets of fog in santa rosa, napa, even concord has one mile visibility. 80 degrees inland, 70 bayside. at the coast a comfortable 69, 70 degrees as our boys come home to san francisco, so we're looking good there. let's find out how good we're looking on the drive. >> there's not a lot offin dents reported but a big warning for folks. here's the bay bridge toll plaza. they turned on the metering lights. it's a little slower across the span. also you can't make out the east shore freeway, but we'll show you the maps. look at this orange, that's where fog may be thick enough to affect your speeds. you know what, i think they're excited about the win for the g
just to put this into perspective for you, 7 to 11 foot storm surge, when we had irene and that was very damaging, that storm surge only went up to 4 feet, so we could see double, potentially triple the size of the storm surge that we dealt with when it came to irene. for us locally, we have a much better scenario to look forward to. highs are going to be nice and comfortable. right now visibilities are dropping off. we've got thick pockets of fog in santa rosa, napa, even concord has one mile...
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Oct 30, 2012
10/12
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KNTV
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again, 50 plus homes have been destroyed out there, worse than irene they're being told. but let's take it live right now. nbc is covering this for us up and down the east coast. daniel lee is live in cape may, new jersey. >> reporter: now that the sun is up we're finally starting to get a better sense of the damage all across the northeast. damage from sandy, a storm that is in no way finished as it continues to bring more wind and in some places more rain. at the height of the storm, sandy turned streets into rivers and ripped shingles from roofs in northern new jersey. sandy sent a record 13-foot storm surge into new york city, flooding tunnels, subways and streets. >> this is a once in a long time storm. the surge is very high. >> reporter: at a medical center a blown generator forced emergency evacuations. in atlantic city, new jersey, floodwaters destroyed a portion of the world famous boardwalk. the national guard rescued at least two dozen people trapped in a shelter that lost power. >> i just think that it should have been a little well -- thought out a little ea
again, 50 plus homes have been destroyed out there, worse than irene they're being told. but let's take it live right now. nbc is covering this for us up and down the east coast. daniel lee is live in cape may, new jersey. >> reporter: now that the sun is up we're finally starting to get a better sense of the damage all across the northeast. damage from sandy, a storm that is in no way finished as it continues to bring more wind and in some places more rain. at the height of the storm,...
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hurricane irene affected them. florida was one of their main ports and they got affected by hurricane irene. that will bring down their of the pros. just a year ago there was lockout and they didn't pass the faa taxes for the airlines. airlines pocketed that. this year the tax is in place. airlines aren't going to see that. david: okay. >> so we'll see jetblue miss. we have two bold estimates on the negative side. these are the best rated analysts that are below the estimate. david: we have to do this quickly because we're running out of time. final loser, the final one that will disappoint on expectations natural resources company called cliffs. they actually had a 6% bump their stock, so you're going against the trend? >> we are. in fact they also have analysts that are far below the consensus. the smart estimate is 10 cents below the consensus estimate. that says the best analysts and latest --. david: so people aren't confused out there. you see green arrows and plus signs. sri is saying no, this will disappoin
hurricane irene affected them. florida was one of their main ports and they got affected by hurricane irene. that will bring down their of the pros. just a year ago there was lockout and they didn't pass the faa taxes for the airlines. airlines pocketed that. this year the tax is in place. airlines aren't going to see that. david: okay. >> so we'll see jetblue miss. we have two bold estimates on the negative side. these are the best rated analysts that are below the estimate. david: we...
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Oct 31, 2012
10/12
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CNBC
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in five years, we have an event like a hurricane sandy, hurricane irene, are we going to talk about closing the stock exchange in five years, ten years from now. are the systems going to be that good. >> let's hope we don't go through this again. it's going to become more virtual over time. it seems to be going that way now. if everybody had been ready to recode and go without a physical trading floor, they could have done it. but i think with night trading in everybody's mind, what happened there, i don't think anybody wanted to take a chance and do something without adequate testing. i think that was a big part of the slowdown and the reluctance to go back. >> i understand the reluctance to not go ahead if you haven't tested it. but i'm curious, do you think the stock exchange deserves criticism for not making sure the tests were done prior to an event like this. >> i don't think it's their fault at all. i don't think it's up to tem -- it's not their job to make other people have the systems running without the new york stock exchange. i don't think it's their fault at all. they did every
in five years, we have an event like a hurricane sandy, hurricane irene, are we going to talk about closing the stock exchange in five years, ten years from now. are the systems going to be that good. >> let's hope we don't go through this again. it's going to become more virtual over time. it seems to be going that way now. if everybody had been ready to recode and go without a physical trading floor, they could have done it. but i think with night trading in everybody's mind, what...
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Oct 31, 2012
10/12
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CNBC
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you look at hurricane irene, tropical storm irene, the cost to state and local governments of new york was $1.2 billion. that was for recovery and cleanup. clearly this is going to be an economic hit on us. dimensions of which we just don't know yet. >> it's interesting how it impacted with mta shut down and people unable to get into manhattan for example. lower manhattan almost deserted. certainly very few businesses operating and few businesses operating at night. how does that work its way through the economy? >> very significantly. we take for granted the extensive public transportation system we have in the new york city metropolitan area. it's the life blood to our economy. when that life blood is not pumping, it will have a serious impact. it's not just how soon will trains be running but will be repair costs? they will be significant. mta had its own financing troubles particularly with regard to that capital program. they obviously weren't anticipating the kind of damage that this storm has brought. a long-term where we're at with financing for the mta is a very unclear pictur
you look at hurricane irene, tropical storm irene, the cost to state and local governments of new york was $1.2 billion. that was for recovery and cleanup. clearly this is going to be an economic hit on us. dimensions of which we just don't know yet. >> it's interesting how it impacted with mta shut down and people unable to get into manhattan for example. lower manhattan almost deserted. certainly very few businesses operating and few businesses operating at night. how does that work its...
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Oct 30, 2012
10/12
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WUSA
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we order the evacuation of atlantic city during irene as well. and irene did not have the devastation on the coastline that sandy did. i don't know whether he thought that we were you know being chicken little here. but we knew that this was a real potential problem. i always err on the side of saving human lives. whether he thought this was not going to happen i don't know. but the fact is that every national weather service was telling us that this storm was going to land and would land very close to atlantic city with unprecedented power. and so i don't know why he did what he did. >> governor christie we know how busy you and your team are. we wish you the best and thank you for your time. >> thank you very much. we appreciate all the outreach we have gotten from other folks around the country. and new jersey is a tough place. we will dig out from under it and we will be back. >> thank you, governor. >>> emergency workers have been coping with automatic kinds of situations during this storm. john miller went for a ride with some of them and w
we order the evacuation of atlantic city during irene as well. and irene did not have the devastation on the coastline that sandy did. i don't know whether he thought that we were you know being chicken little here. but we knew that this was a real potential problem. i always err on the side of saving human lives. whether he thought this was not going to happen i don't know. but the fact is that every national weather service was telling us that this storm was going to land and would land very...
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Oct 31, 2012
10/12
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there are estimates this could be 20 billion compare that to hurricane irene that was $15 billion. some are saying it could be as big as hurricane katrina. how could that be? >> we are talking the east coast. we are talking about places that aren't necessarily prepared for this stuff. new york city shut down for two-days the stock market shut down for two-days. i think we are going to end up adding in the lost costs -- the subways aren't up for another two-days. that number is large there's no doubt about it. the estimates seem to be picking up. yesterday there was credible sources saying 35-45 billion. >> you look at the infrastructure new york city, the tunnels, boston elsewhere the number really starts going up. >> flooding unique flooding, salt water. this is an uncommon storm unusual characteristics and it will be involved as well. >> the economy is certainly growing at not too great rate. an anemic rate. what does it mean for the overall economy. >> it is pretty frightening. you couple this with the notion of fiscal cliffs. the last couple weeks the stock market is getting ha
there are estimates this could be 20 billion compare that to hurricane irene that was $15 billion. some are saying it could be as big as hurricane katrina. how could that be? >> we are talking the east coast. we are talking about places that aren't necessarily prepared for this stuff. new york city shut down for two-days the stock market shut down for two-days. i think we are going to end up adding in the lost costs -- the subways aren't up for another two-days. that number is large...